The Financial Conduct Authority, which is responsible for regulating almost 25,000 UK financial firms, has put the finishing touches to its supervisory team with the hire of a senior risk and compliance executive from Lloyds Banking Group.

Karina McTeague, until recently the chief risk officer for North America at Lloyds, will take charge of the FCA's retail banking supervisory unit in November, the authority said this morning. She will be responsible for the monitoring of more than 300 large, complex retail banking groups in the UK.